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commonly asked questions about title deeds in Kenya
CategoriesMint Villa Housing

5 Commonly asked questions about title deeds-Kenya

In this article, we will answer the commonly asked questions related to title deeds. A title deed is a document that shows proof of ownership of property. These include

  1. Do you have ready title deeds?
  2. What type of title deeds do you have?
  3. How can I know if a title deed is real or fake?
  4. Can a foreigner own property in Kenya?
  5. How long does the transfer process take?

Do you have ready title deeds?

Yes we do.

We have ready title deeds for each property on sale under the name of the company. This is given to the client together with an offer letter to conduct a title search.

READ: How to do an online title search

What type of title deeds do you have?

There are three types of title deeds in Kenya

  1. Sectional title: title for a unit within a building, for example, a flat or apartment.
  2. Leasehold:  This is a type of title deed where the ownership and use of the land is capped at a maximum of 99 years
  3. Freehold tittle: A person or organization has ownership of the property for the rest of their lives.

Companies such as Mintvilla Housing have ready, freehold titles.

How can I know if a title deed is real or fake?

You can know a title deed is real firstly by examining its features;

A title deed by appearance is a 4 page booklet with a seal and a signature.

Page 1 -It has the title number, estimate size of the land, map sheet number, name of the owner, a seal and a date of issue. It also shows the type of land

Page 2– At the top is has 2 sections A and B described as, property and proprietorship. It also shows the parcel number details of the owner, a signature and stamp.

Page 3– This is the encumbrances section. It shows the history and records of the land. If there are any mortgages, loans and court cases related to the land they will be highlighted on this page.

Page 4– The last page looks like a book cover and has details similar to the first page. It records the Title Deed number and the document code at the bottom.

Lastly, the  most effective way is by conducting a title search at the land registry or conducting an online title search.

Can a foreigner own property in Kenya?

Yes.

One can own property on the basis of a leasehold tenure. which is a maximum of 99years.Ownership can be renewed after the lease period.

Foreigners can not only own land in person but also in trust or as a company.

How long does the transfer process take?

The process of transferring a land title deed  takes a maximum of 90days.

The Bottom Line

It is very important to not only know if the title deeds are ready, but also the type and how long it will take for it to transfer the title to your name before purchasing a property. Feel free to comment on the box below or email us at info@mintvillas.co.ke.

 

 

 

CategoriesMint Villa Housing

What’s an offer letter when buying property

 

An offer letter is the first document you’ll sign as a client intending to buy a property after you have viewed the property and chosen a house number. It contains the terms of the purchase, the purchase price, and the deposit or the down payment.

Details of an offer letter 

  • The Legal names of the buyer
  • The address of the buyer
  • The details of the property the house number and the specific project
  • The dates when you’ll make the first payment to the last one
  • Conditions of the sale

Why an Offer letter is important

An offer letter is important for the following reasons;

  • Firstly, It shows the buyer  your interest  to buy a property
  • Secondly, It eliminates the possibility of two buyers getting the same property. But this is only valid for 14 days
  • Thirdly, It not only shows the date you’ll pay the deposit, but it also specifies the completion date of the sale
  • To add on that, It outlines the terms in case of a cancellation and if there are nay charges involved in case of a withdrawal.
  • It also highlights if there are any extra costs related to the puchase.Read on extra you may incur when buying a house.
  • Lastly, It gives room for a search of the title. The seller gives the client their lawyer a copy of the title to determine legitimacy of the property.

The bottom line

As a buyer, you must know that the offer letter is not a legally binding document. After you pay the full deposit. The offer letter is confirmed.. However, The client is in most cases given up to 14 days to sign and return it to the seller.

For any questions kindly contact us on 0711082929  or email us at info@mintvillas.co.ke

 

 

 

 

 

 

 

 

 

 

 

 

 

CategoriesMint Villa Housing

Steps of Buying a House Along Kangundo Road

 

Step 1: Site visit

The first step of buying a house is visiting the property along Kangundo road. A site visit will help you determine the following;

  • The neighborhood
  • The distance from the amenities
  • The security
  • The finishing of the house
  • The size of the house

Step 2: Title Search

After viewing the site and liking the houses the next step is choosing a house and then conducting a title search. You will need a copy of the land title deed from the seller to facilitate the search. Afterward, you’ll Visit the land registry and search. A search  1 to 3 days.

A search is important because of the following reasons;

It will help you know if the seller is the legitimate owner of the property and

If the property has any barriers.

Step 3: Make an offer and negotiate

The next step would be to visit the offices and talk to their credit officer who will then draft an offer letter for you. The offer letter will indicate how you are intending to pay for the house.

Step 4: Make a deposit

After that, you will proceed to pay a deposit. The amount varies depending on the seller; for instance, Mintvilla Housing requires a minimum deposit of 24%.

The deposit is a declaration of intent to complete the transaction.

Step 5: Sales agreement

The seller’s advocates receive the offer letter for preparation of an agreement for sale within seven (7) days from the date of the payment confirmation. You will be required to produce your original Identity (ID) Card, a Copy of your KRA PIN certificate, and a colored passport-size photograph.

You will have fourteen (14) days to execute the agreement for sale, after that the company’s directors will execute it and advocates attest to it.

 

Step 6: Pay closing costs

These include legal fees, registration fees, stamp duty, and any other fees required to facilitate the transfer and other costs discussed in our previous article on extra costs related to buying property

Closing costs are paid through the itax  KRA portal 

Step 7:Title transfer

The title is then transferred to you after all payments are made and lastly,

the client can at this point occupy the property.

 

 

 

Get in touch

phone

+(254) 711 08 29 29

Suite 702, 7th Floor, Trance Towers, Tsavo Lane, South B Nairobi, Kenya

email

Homes@mintvillas.co.ke

about us

Mintvilla Housing is a Kenyan based developer of Integrated & Affordable lifestyle communities offering exceptional value to aspiring homeowners

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